Chandigarh, July 12
After a discussion with the Chief Secretary and other senior officers concerned, the Cabinet Subcommittee headed by the Rural Development Minister, Mr Lal Singh, today made a recommendation that along with debt-ridden farmers, those who got loans from the Punjab Backward Classes Finance Corporation and the Punjab Scheduled Castes Finance Corporation should also be given relief on the pattern of farmers.
Talking to The Tribune, Mr Lal Singh said there were khet majdoors( farm labourers) and poor people from backward classes who deserved financial relief because they were unable to return loans advanced to them by government undertakings. The officers concerned had been asked to calculate the relief amount to be given to such beneficiaries.
The Punjab Pradesh Congress Committee president, Mr Shamsher Singh Dullo, has been pressing the government that “khet majdoors and other poor sections of society should also be given relief while waiving the loans of debt-ridden farmers.” The government today conceded his demand.
Mr Lal Singh said Mr Sardool Singh, Mr Avtar Henry, Mr Amarjit Singh Samra and Mr Surinder Singh Singla were among those present at the meeting.
He said the committee wanted that relief of Rs 2,085 crore should be given with regard to debt to farmers, backward classes and the Scheduled Castes. Of the debt amount on which relief required to be given immediately, Rs 309 crore was of district cooperative banks, Rs 198 crore of cooperative agriculture development banks and Rs 390 crore of commercial banks. Apart from this, there was Rs 1,268 crore of interest of one year on various loans.
The government wanted that this interest should either be waived or paid by the Union Government. “ In all, we want Rs 2,085 crore from the Union Government to give relief to farmers and other marginalised sections”, said Mr Lal Singh.
He said soon, the committee would meet representatives of the commission agents to talk to them about the
loans being advanced to farmers by moneylenders. He said it was a sensitive issue and the committee would take the commission agents into its confidence before taking any decision in this regard. He said there were three main issues with regard to loans of Rs 12,000 crore advanced by moneylenders or commission agents to farmers.
The first issue related to a one-time settlement of the loan amount with farmers by moneylenders as was done by various banks and other financial institutions such as the Punjab Finance Corporation. The second was determining of the rate of interest on which farmers were to be advanced loans by moneylenders and whether simple or compound interest was to be charged. The third issue related to the mode of payment of loan.
He said the government would frame a law in this regard only after holding extensive consultations with moneylenders.
